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BENGALURU: Wipro's billionaire chairman Azim Premji, the first Indian to sign the Giving Pledge, has set aside more than half of his wealth for charity by allocating an additional 18% stake in the company to fund philanthropy. Premji, who will turn 70 this month, controls a 73.39% stake in India's third-largest software company, which is worth about Rs 99,500 crore ($15.7 billion). In Wipro's annual report for the year ended March 2015, Premji said he has now allocated the equivalent of 39% of the company's shares to a trust focussed on philanthropic initiatives, mainly primary education.

Merry Christmas! Maybe it’s because of some vestigial religious undertones to this holiday, or maybe it’s because the end of the tax year is rapidly approaching, along with the urgency of maximizing your annual deductions. Either way, this is a particularly philanthropic time of year. And since I’m personally feeling very charitable right now, I’ve decided to do you all the favor of telling you that when it comes to philanthropy, you’re doing it wrong.

MUMBAI: AM Naik pledged to devote 75% of his lifetime income to charity as he gets ready to step down from active leadership of the $16-billion engineering conglomerate Larsen & Toubro a year from now. "Charity is a personal desire. In my case, giving has continued for three generations. My grandfather and father did not have money so they lived their lives for poor people," Naik told ETin an interview.

BENGALURU: Wipro's billionaire chairman Azim Premji, the first Indian to sign the Giving Pledge, has set aside more than half of his wealth for charity by allocating an additional 18% stake in the company to fund philanthropy. Premji, who will turn 70 this month, controls a 73.39% stake in India's third-largest software company, which is worth about Rs 99,500 crore ($15.7 billion). In Wipro's annual report for the year ended March 2015, Premji said he has now allocated the equivalent of 39% of the company's shares to a trust focussed on philanthropic initiatives, mainly primary education.

Charitable giving has a new look, one that is broadening the giving pool and helping keep the dollars rolling into nonprofits even during tough economic times, according to a new report. The reason for this change are so-called donor-advised funds, which are the fasting growing charitable giving vehicle in the country. Some 175,000 of these giving accounts now hold $37 billion in assets, up 34% in since 2009. That growth has defied general sluggishness in charitable giving since the financial crisis.

Charitable giving has a new look, one that is broadening the giving pool and helping keep the dollars rolling into nonprofits even during tough economic times, according to a new report. The reason for this change are so-called donor-advised funds, which are the fasting growing charitable giving vehicle in the country. Some 175,000 of these giving accounts now hold $37 billion in assets, up 34% in since 2009. That growth has defied general sluggishness in charitable giving since the financial crisis.